The lovely old school building which was erected in 1884, still sits on the site and has been boarded up for years. The development plan calls for a total of 18 upscale homes on the site including 5 in the former school and 13 semi’s and townhomes surrounding it. The units in the school building and the associated “coach houses” will be condos while the balance of the homes will be freehold ownership.
According to the sales office, the condo fee for the 5 units in the building will be $0.30 per square foot. The 13 homes that surround them are freehold but will be part of a common element condominium to cover the private grounds and internal road. Those will have a set maintenance fee of $199.00 per month that covers the maintenance and reserve fund for the road.The developer has made it a priority to preserve the architectural integrity of the old school house and has achieved a heritage designation on the site.
Prices start at $500,000 for a 1270 sq ft, condominium coach house and climb to $770,000 for a 2540 sq ft semi detached home. Plans include luxury finishes with granite or quartz counters, hardwood floors, 9 foot ceiling as you would expect at these price points and there are also options for things like elevators.
The Grand Opening is planned for May 7th although they have been taking reservations for a long time already. Last I heard, 4 units were sold and given the current market conditions, I would expect this may sell out well despite what I think was a premature sales launch. They have it in hand now and if you are interested in learning more or in having my assistance in considering this project, contact me today.
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg